PFC gets shareholders' nod to raise up to Rs 60,000 crore

State-run Power Finance Corporation (PFC) has received approval of shareholders to raise up to Rs 60,000 crore through issue of securities. The shareholders have approved the proposal with "requisite majority" at its Annual General Meeting held on September 24, the company said in a regulatory filing. PFC is a one of the leading lenders to the power sector.

The company had earlier said that it proposed to raise Rs 60,000 crore through issue of bonds, debentures, notes, debt securities or private placement basis in India and or outside the country. PFC, an infrastructure finance company, is engaged in providing financial assistance to state power utilities for meeting the financing and development requirements of the power sector.